RAY Net Realized P&L

How it is calculated

Transfers valued above their estimated cost basis contribute realized profit; those valued below it contribute realized loss. Each daily reading subtracts the total loss amount from the total profit amount.

Net Realized P/L = Σ Realized Profit − Σ Realized Loss

How to read this chart

• Above zero: Realized profits exceed losses in value, shown in green.
• Below zero: Realized losses exceed profits in value, shown in red.
• Near zero: Profits and losses roughly balance. Large gains and losses can cancel out, so this does not mean every transfer occurred at breakeven.

Select USD for dollar values or RAY for values in Raydium terms. Smoothing helps reveal trends but can soften peaks and delay turning points.

Net versus separate profit and loss

Net P/L combines both sides into one line. The standard Realized P/L chart shows profits and losses separately, preserving their total magnitude. For example, $100M in profits and $60M in losses produce +$40M in net realized profit.

Interpretation and limitations

Cost-basis accounting depends on the Raydium network and indexer methodology. An on-chain transfer does not necessarily represent a sale or a change of owner.

This measures the value of realized gains and losses, not the number of people selling. Sustained positive or negative readings can help describe market phases, but do not establish a market top, bottom or future price direction.